FastMatch has partnered TradAir to target the institutional 'clicker' segment of the foreign exchange market in a bid to boost the venue's trading volumes and diversity its liquidity
As a result of the partnership, TradAir, a provider of front-office e-FX trading technology solutions, will provide FastMatch with: a complete end-to-end FX trading platform; a professional-level HTML 5 trading user system
Dmitri Galinov: "We identified a significant opportunity to increase our volumes"
eFX trading technology solutions provider TradAir has announced that its partnership with Forex ECN FastMatch is now live. TradAir will be providing FastMatch with:
- Complete end-to-end FX trading platform, leveraging the latest in high-performance cloud, web, BigData, and HTML5 technology
- Comprehensive admin suite, supporting user and organization on-boarding, with granular permissioning of trading functionality, workflows and display components
- Professional level HTML5 trading UI, fully branded and customizable with support for broad range of manual and algo trading styles and order types
- All underpinned by TradAir’s real-time trading analytics engine
This is not the first time TradAir and FastMatch have met. Late last year FastMatch hired TradAir’s Andrew Gibson as Director of Sales for Europe. However Gibson left FastMatch after just four months, as was exclusively reported at the time by LeapRate.
FastMatch, which is jointly owned by retail forex broker FXCM Inc (NASDAQ:FXCM) and commercial banks Credit Suisse and BNY Mellon, is a leading institutional Forex ECN, servicing banks, institutional clients, and professional trading firms, with average daily volumes (ADV) of around $13bn/day, executed via APIs.
However, a good proportion of global FX volumes are also executed by traders clicking on screens, and leveraging a broad range of trading styles and workflows.
In order to reach the ‘clicker’ segment of the market, FastMatch needed a strong trading technology partner, with a highly secure, end-to-end trading platform, that was fully integrated with FastMatch’s ECN order book.
Speaking of their decision to select TradAir, Dmitri Galinov, FastMatch CEO commented:
As a leading institutional FX-ECN, FastMatch are committed to providing liquidity to market participants. We identified a significant opportunity to increase our volumes by providing liquidity to the professional ‘clicker’ traders in the market.
After reviewing available platforms, we selected TradAir as our trading technology partner. They provide a truly market-leading, cloud based FX trading platform, with sophisticated trading analytics, and fully featured and highly customizable professional HTML5 trading UI.
We have started on-boarding clients to the new platform, enabling them to trade on our deep liquidity, and posting both manual and algo orders directly on our order books.
TradAir’s eFX platform, with global points of presence, and fully managed service provides everything an ECN such as FastMatch needs in order to service the growing number of professional banks and institutional ‘clicker’ traders, on a global basis.
The comprehensive suite of admin tools, ensures speedy on-boarding for organizations and their traders, and the granular permissioning of trading functionality and display components, ensures a truly customized user experience.
Commenting on the FastMatch deal, Illit Geller, TradAir CEO added:
Our fully managed, end-to-end trading platform, with the highest professional level HTML5 trading UI, provides the trading functionality, performance, scale and reach required by FastMatch to service the needs of their globally distributed clients.
We are delighted to partner with FastMatch, and their leading technology.